Canary Funds updates S-1 for its XRP spot ETF, removing the delaying amendment 
and targeting a November 13 launch pending Nasdaq approval.
The post Canary Funds updates S-1 filing for XRP spot ETF, targeting November 
13 launch appeared first on Crypto Briefing.

Canary Funds updates S-1 filing for XRP spot ETF, targeting November 13 launch

According to onchain data, Elon Musk’s Space Exploration Technologies Corp., 
better known as SpaceX, shuffled 281 BTC — roughly $31.2 million — to a 
mystery wallet. Elon Musk’s SpaceX Sends Bitcoin Into Deep Space, Onchain 
Detectives on the Case SpaceX has been quietly shuffling its bitcoin stack, 
and the latest move was flagged by onchain […]

SpaceX’s Bitcoin Stash Is on the Move Again—Here’s What We Know

Lombard Finance has acquired the live on-chain infrastructure of BTC.b, a 
$538M Bitcoin asset on Avalanche. The firm plans to channel this flow across 
Ethereum, Solana, and other major chains starting next year. On Oct. 30, 
Bitcoin DeFi protocol Lombard…

Lombard takes over $538m BTC.b in landmark Bitcoin deal

With the end of October approaching, Senate Republicans are in danger of going 
back on their previously announced deadline for a significant cryptocurrency 
bill.

Amid US gov’t shutdown, lawmakers work to pass market structure: Report

Shiba Inu’s effort to grow beyond being a meme coin is struggling. Its 
blockchain network, Shibarium, was created to bring real use and value to the 
project, but it has not gained much attention or activity. Developer interest 
and user engagement are very low, and the network’s overall growth has slowed 
down sharply. Recent network issues, including technical troubles and security 
problems, have made things worse. Many users have left, and new projects are 
not joining. As a result, Shibarium now shows very little activity, leading 
many in the crypto community to call it a “ghost chain.” Shiba Inu&#8217;s Struggle 
To Evolve Beyond A Meme Coin Shiba Inu tried to change its image from a simple 
meme coin into a real blockchain project capable of competing with other 
networks. The team launched Shibarium, a layer-2 blockchain, in 2023 to help 
make this move. However, this plan has not worked as expected, with Shibarium 
failing to attract developers, projects, or users and gaining no market share. 
Related Reading: XRP At $1,000 Is Peanuts If Used To Clear US National Debt; 
Pundit Explains According to data from DeFi Llama, Shibarium has only 18 
developers since it began. It is a much lower number than on other 
blockchains, which have hundreds or even thousands of active developers. The 
total value locked (TVL) on the network, which shows how much money people 
have invested in it, has fallen to just $878,000. Shibarium has also failed to 
attract any stablecoins, which are among the most widely used tokens in 
decentralized finance. Not a single stablecoin project has deployed on the 
network, reflecting Shibarium&#8217;s lack of presence in one of the most critical 
areas of the crypto world. Other newer and more active layer-2 networks like 
Base, Arbitrum, Plasma, and Linea have already moved far ahead, leaving 
Shibarium behind. Hacks And The Decline Of Shibarium Network Activity Things 
got worse for the network when ShibaSwap, the most popular decentralized app 
(dApp) on the Shibarium network, was recently compromised. The attack eroded 
user confidence and forced developers to pause a key bridge connecting 
Shibarium to other networks. Even with the bridge now active, most of the 
network’s activity stopped. Many users could not move their tokens or use 
apps, making the network almost entirely silent. Related Reading: Here’s Why 
The XRP Price Still Isn’t Bearish Despite The 50% Flash Crash Because of this 
drop in network activity, Shibarium is no longer helping burn SHIB tokens. 
Typically, a portion of network transaction fees goes toward buying and 
burning Shiba Inu tokens, helping reduce supply and support the token’s price. 
But now, with very few transactions, the burn process has slowed down 
significantly. The decline in users, developers, and activity are indicators 
that Shibarium’s dream of becoming a strong, useful blockchain has not come to 
fruition. Instead of growing into a central crypto platform, it has become 
what some would call the real ghost chain. Featured image created with Dall.E, 
chart from Tradingview.com

Cryptocurrency price in KWD